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Accountant or Lawyer?

  • 20-01-2021 4:20pm
    #1
    cnocbui
    Registered Users, Registered Users 2 Posts: 20,121 ✭✭✭✭


    I am currently engaged with a lawyer concerning a difficult probate/executorship matter. I't seems to have been resolved, other than the grant of probate going back for a third shot at getting the details right, and me paying extra for others to fix their mistakes.

    The lawyer I have been engaged with lists inheritance issues as a competency, but when I have raised the issue of dealing with the inheritance tax aspect of my children inheriting an interest in a property, they have sought to engage another specialist legal firm, rather than deal with it themselves.

    I am thinking of calling a halt to this process and engaging an accountant to handle the inheritance tax angle, as the legal costs are getting a bit much.

    Is there a real world advantage to getting a lawyer to prepare an inheritance tax return vs getting an accountant to do it?


Comments

  • #2
    Taxuser1
    Registered Users, Registered Users 2 Posts: 1,689 ✭✭✭Taxuser1


    cnocbui wrote: »
    I am currently engaged with a lawyer concerning a difficult probate/executorship matter. I't seems to have been resolved, other than the grant of probate going back for a third shot at getting the details right, and me paying extra for others to fix their mistakes.

    The lawyer I have been engaged with lists inheritance issues as a competency, but when I have raised the issue of dealing with the inheritance tax aspect of my children inheriting an interest in a property, they have sought to engage another specialist legal firm, rather than deal with it themselves.

    I am thinking of calling a halt to this process and engaging an accountant to handle the inheritance tax angle, as the legal costs are getting a bit much.

    Is there a real world advantage to getting a lawyer to prepare an inheritance tax return vs getting an accountant to do it?

    Cat is quite simple. Who are you looking out for here? tax consultants are generally cheaper . Send a pm if you wish


  • #3
    cnocbui
    Registered Users, Registered Users 2 Posts: 20,121 ✭✭✭✭cnocbui


    Taxuser1 wrote: »
    Cat is quite simple. Who are you looking out for here? tax consultants are generally cheaper . Send a pm if you wish

    Thanks, PM sent.


  • #4
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    The returns are very simple to complete.

    The only reason to have a lawyer do it is if they are doing it as part of the probate.

    They have all the data they need. It will only take 10 minutes to complete the form.

    Getting a separate legal firm or a specialist tax firm to fill out the form risks mistakes from the second firm lacking all the information they need.

    The first firm needs to fill out the form imo.

    That's my opinion as an accountant. It feels like every time I've done a cat return I've spent more time chasing people for details than filling out the return.


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